Synopsis
The article “Explore to Exploit: A Data-Centred Approach to Space Mining Regulation” by Olaf Steffen discusses the need for a regulatory regime for space mining due to recent advancements in the launch industry and the development of a private space economy. The author proposes a regulatory regime and mechanism to acquire rights for mining celestial bodies while preserving the information and knowledge contained within these bodies as heritage for future generations and for scientific purposes.
The article highlights that a regulatory regime for space mining must provide legal clarity on acquiring mining rights for celestial bodies without hindering investment in the sector. It should also encourage progressive development and prevent the formation of market monopolies by promoting continued investment in new space mining companies, even after first movers have proven the concept.
Steffen emphasizes the importance of the proliferation of space mining and the establishment of a spacefaring civilization. The proposed regulatory regime aims to balance space mining business and investor interests with the interests of the scientific community and provide a way for all countries to actively participate in the development of a space mining economy. The exploration data of a celestial body is considered a valuable resource, and its publication is proposed as a prerequisite to gaining exclusive mining rights, to prevent monopoly formation, boost scientific progress, and preserve the information contained within the celestial bodies for future generations.
